What happened this week:
- Manufacturing is good
- Cash yield of S&P 500 fell from 7.55 in March to 5.32 in June
- Pending home sales are down 13% from December, just 6 months ago
- Junk bonds and derivatives are crashing, some CDS indexes are in panic
- It was a continuous panic in junk bond/credit default swaps markets
- I was in vacations, so missed a lot of action
